Phalanx Impact Partners (a US-based impact-driven private equity firm) recently announced they have invested in ECOR Global (an emerging leader in manufacturing sustainable materials and circular solutions for the building products and packaging markets). This investment underscores Phalanx’s mission to support businesses that drive positive environmental and social impact.
Based in San Diego with facilities in the Netherlands and Serbia, ECOR’s proprietary technology converts agricultural waste and select by-products into sustainable building and packaging materials without the use of toxic binders like commonly used petroleum-based glues or urea formaldehyde. As a result, all ECOR’s products are fully recyclable, and their marquee product ECOR-Ply is the world’s first fully recyclable plywood that meets all building industry standard specifications.
ECOR-Ply panels could be used by customers across various applications including flooring, cabinetry, furniture, general construction, retail displays, store fixtures, interior architectural elements, secondary packaging and more. To expand product availability in North America, ECOR has been developing a site in the Corpus Christi, Texas region for easy access to agricultural resources and their manufacturing and distributor customers and evaluating other U.S. locations.
The funding marks an important milestone for ECOR as the company prepares for a significant increase in production capacity and distribution of its proprietary materials solutions. With the Phalanx funding, ECOR will further accelerate the pre-construction design and commercial work related to its first U.S. facility, expand its Serbian operations, and enhance its capabilities to develop advanced materials and solutions that address pressing global challenges related to resource depletion and environmental degradation.
Phalanx has been recognized for its strategic investments in companies that prioritize creating products that promote sustainability, circularity, and technological advancements. And the firm’s decision to invest in ECOR underscores its confidence in ECOR’s innovative approach that provides healthy and sustainable material alternatives for flooring, furniture, and other interior applications, in addition to secondary packaging and exhibition solutions.
ECOR’s unique approach involves transforming natural fibers and recycled materials into versatile, high-performance composites. And these composites have applications in sectors ranging from substrates for flooring, furniture, packaging, and consumer goods. Along with ECOR-Ply, the company also offers ECOR-1 with applications including flooring, cabinetry, furniture, and retail displays, as well as has the ability to produce custom formulated materials to meet customer needs.
This funding will enable ECOR to accelerate its near-term development initiatives and complete the design and commercial work for its first planned U.S. facility and further expansion. And over the next year, the company is also seeking to partner with one or more infrastructure capital firms to further accelerate its development and ability to meet rapidly growing customer demand for its products. The company and Phalanx also looks forward to expanding market awareness of the company’s unique products, planned facilities and commitment to building a more sustainable environment for industry and consumers.
KEY QUOTES:
“We are thrilled to partner with Phalanx in our journey to revolutionize the way materials are produced, used, and repurposed. This funding will allow us to scale our operations, accelerate facility development to meet contracted demand, and drive forward our mission of creating a more sustainable and circular economy for our growing customer base.”
— Jay Potter, Co-Founder and CEO of ECOR
“We are proud to support ECOR as they continue to pave the way for sustainable solutions that align with our vision for a more regenerative and equitable future, and we are additionally excited by the potential for ECOR to provide a more beneficial use for the majority of agricultural mass that is not consumable and has historically been disposed of in environmentally damaging ways. ECOR’s commitment to environmental stewardship and circular design perfectly aligns with our investment philosophy. We’re excited to help them grow and prepare to embark on a significant infrastructure focused capital raise in the coming year.”
— John Pantalena, Partner at Phalanx
